Rep. Sander Levin, D-Mich., joins the House Democratic leadership to speak to reporters just after meeting with Treasury Secretary Timothy Geithner on the fiscal cliff negotiations, at the Capitol in Washington, Thursday, Nov. 29, 2012. / J. Scott Applewhite/AP

Detroit Free Press Washington Staff

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WASHINGTON – As House Republicans huddled on a Senate deal to forestall broad tax hikes and automatic spending cuts, a key Michigan Democrat said they need to act quickly or it could deal a blow to the economy.

U.S. Rep. Sandy Levin of Royal Oak issued a statement this afternoon, calling on Republican leaders “to immediately hold an up or down vote” on legislation passed by a wide margin in the early hours of the day in the Senate.

The bill would keep current tax rates in place, except for individuals making more than $400,000 a year and households making more than $430,000 a year, who would see their rates go up. The legislation also extends an enhanced federal unemployment insurance plan for a year and delays deep across-the-board spending cuts – set to go into effect with the new year – for two months, giving Congress a chance to replace them.

Even though the legislation enjoyed broad bipartisan support in the Senate, House Republicans spent much of today trashing it. The deal was light on spending reductions, and many Republicans wanted to see more in that area. But with a new Congress to be sworn in Thursday, there is little time to act.

Analysts have said if the country goes off the so-called fiscal cliff, it could plunge the nation back into a recession.

“House Republicans are providing further evidence of an extremism that threatens the economy and the well-being of Americans throughout our nation,” said Levin, the top-ranking Democrat on the House Ways and Means Committee. “Governing carries with it a responsibility to be able to accept balanced approaches.”

“With markets reopening on Wednesday and Americans returning to work, the only responsible path forward is for House Republicans to immediately hold an up or down vote on the bipartisan Senate legislation,” Levin said.